Over 500 businesses responded to this survey, giving us one of the most comprehensive snapshots of Alaska’s small business sector available.
The Alaska SBDC is proud to present the results of our third Alaska Small Business Survey. This survey was created to help business owners, policymakers and others understand the challenges and perspectives of businesses in Alaska.
There were several changes in the responses in this year’s survey over last year. In 2019, business owners outlook for the state and local economy have shifted from positive to negative. Their sources for new capital have changed as well with Bank funding no longer the number one source. Friends and family have replaced it for the first time in the three years of the survey.
“While the Alaska SBDC is still optimistic about the future, it’s clear there are areas that need to be addressed to unlock our economic potential before businesses can return to a focus on growth.”– Jon Bittner, Alaska SBDC Executive Director
Some things remained the same however. When it comes to barriers to business the top issue by far was still operating and shipping costs followed by finding qualified employees. These issues have consistently been in the top five for all three years of the survey. That consistency indicates these barriers are deeply entrenched in the Alaskan economy and are resistant to external changes, making them difficult to address.
Read the full 2019 Alaska Small Business Survey report (pdf).